Payza Founders Indicted for $250 Million Money Laundering Scam

By | 2018-05-23T15:47:17+00:00 March 21st, 2018|Categories: MLM Lawsuits, Multi-Level Marketing, Payza, SEC|

It was revealed today that Payza founders Firoz Patel and Ferhan Patel were indicted on felony conspiracy and money laundering charges earlier this month. The grand jury accuses the Patel brothers of operating a "money transmitting business that operated without the necessary state licenses and knowingly transmitted funds that were derived from illegal activity". This illegal [...]

SEC Files Lawsuit Against Traffic Monsoon Founder Charles Scoville, Alleges $207 Million Ponzi Scheme

By | 2018-05-04T18:54:54+00:00 July 26th, 2016|Categories: MLM Lawsuits, Multi-Level Marketing, SEC|

Today, federal regulators filed a lawsuit in Salt Lake City, UT, alleging that Charles Scoville has been running Traffic Monsoon as a massive Ponzi scheme. Scoville and Traffic Monsoon's assets were immediately frozen and a receiver will be appointed to secure and eventually allocate the $60 million that Scoville is alleged to be hoarding in U.S., Canada, [...]